LiveAuctioneers: A Different League of "Online" Auctions

Yes, this is a post about auctions that has (almost) nothing to do with eBay. Rather, it is about adding a digital layer to live auctions.

The company is called LiveAuctioneers and it offers two major sources of value:

1. Live online broadcasts of real auctions.
2. A database of what is being auctioned so people can find things they might want.

Here's how they describe their value:

LiveAuctioneers is the premier gateway linking bidders to traditional auction events broadcast in real-time via the Internet. The company’s exclusive technology and services suite connects auction houses and bidders worldwide through eBayLiveAuctions.com. LiveAuctioneers provides bidders with unprecedented levels of access to hundreds of auctions and remote saleroom floors the world over, while substantially expanding the potential bidding audience for auction houses. In doing so, LiveAuctioneers has ushered in the “clicks-and-mortar” era of auctioneering by creating a unique technological platform through which remote auction transactions can be made in a safe and secure manner.

LiveAuctioneers’ founders realized eBay’s 200-million-plus audience could deliver tremendous bidder participation to traditional auction houses worldwide. To that end, they established a partnership with eBay Live Auctions in late 2002 to help bring auction catalogs to the Internet for live online bidding. Since then, LiveAuctioneers has grown to become the second-most frequently visited auction-related Web site for fine art, antiques and collectibles, following only eBay. LiveAuctioneers now broadcasts dozens of auctions each week, encompassing millions of auction lots per year for more than 500 of the world’s finest auction houses. As auction houses have had to position themselves for online bidding to remain competitive, LiveAuctioneers has grown exponentially by providing industry-leading technology and service.

LiveAuctioneers is more than just a gateway between auction houses and bidders; it’s also the auction industry’s leading online database. Every day, the LiveAuctioneers database features thousands of items to be sold in upcoming auctions. But it also constitutes an archive of nearly 4 million auction results, illustrated by more than 28 million images. This massive data warehouse gives appraisers and researchers access to irrefutable, up to the minute auction results. It also enables decorators and interior designers to source fresh to the market items. It’s easy to use, and it’s also completely free to search. LiveAuctioneers is the most comprehensive, up-to-date resource available.

Now, for those who like video more than type, here's their Tech Crunch vid:



Since the system enables the making (and collecting)of bids, it is a boon to both the sellers, the auctioneers, and buyers who see must have items that they...must have.

It's a cool concept, and presumably their revenue model has great room for growth. Especially since EbayLiveAuctions is closing at the end of December.

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